[Showmethemoney]

Rumor has it this is why YELLOWSTONE and GTR are being investigated SHAME ON THEM

[Nunya]

proof?

[kingcash555]

Rumor has it this is why YELLOWSTONE and GTR are being investigated SHAME ON THEM

rumor lol #facts

[WestCoastFunding]

I was in this hipster coffee shop today, and I overheard...

[Maestro]

Was that you in the coffee shop with the avocado toast?

[WestCoastFunding]

Avocado toast with micro greens.

[Showmethemoney]

Nahhh man this is concrete evidence from former employees but sit back and watch the show

[WestCoastFunding]

Nahhh man this is concrete evidence from former employees but sit back and watch the show

Based on a rumor, right?

[morgan.quinn]

Lots of funders debit an extra 3-5 payments at the end of the merchant's term (if the merchant was paying daily) to make sure the advance is paid completely, and to accommodate for the lag time of the funder's ACH processing. Just gotta make sure the merchants are aware of this up front so they don't stop the final pulls, and issue their refunds as soon as possible since it is a bit inconvenient for them-- Especially if they paid perfectly.

If anything is going on regarding Yellow 'overpulling' it will probably be chalked up to slow reporting and lazy refunds, or a combination of both... but not due to any nefarious intent to steal from merchants. They make enough money without having to steal $600 from Bob's Burger Hut.

[Davincinc]

Lots of funders debit an extra 3-5 payments at the end of the merchant's term (if the merchant was paying daily) to make sure the advance is paid completely, and to accommodate for the lag time of the funder's ACH processing. Just gotta make sure the merchants are aware of this up front so they don't stop the final pulls, and issue their refunds as soon as possible since it is a bit inconvenient for them-- Especially if they paid perfectly.

If anything is going on regarding Yellow 'overpulling' it will probably be chalked up to slow reporting and lazy refunds, or a combination of both... but not due to any nefarious intent to steal from merchants. They make enough money without having to steal $600 from Bob's Burger Hut.

this is a violation of any contract if true, i do not advocate for these unnecessary draws as good business because its not ethical and never disclosed to any merchant during signing, funding call, to funded. I knew greencap does this but they do not refund unless you ask.

[morgan.quinn]

this is a violation of any contract if true, i do not advocate for these unnecessary draws as good business because its not ethical and never disclosed to any merchant during signing, funding call, to funded. I knew greencap does this but they do not refund unless you ask.

I agree that processing extra debits without disclosing it in the contract and at the time of funding is totally out of bounds. It must be disclosed.

[TimothyNoodles]

There are only 2 ways you wouldn't know this is 100% true:

1. 100% of your deals defaulted and did not make it to full term
2. You work with merchants who don't care about being overcharged thousands upon thousands of dollars

There are only 3 ways YS could systematically and routinely allow this to happen*:

1. They forgot how to count
6. They are allergic to numbers
23. They made the same adorable little oopsies thousands upon thousands of times
4568. They are crooks

*- this list numbered using YS payment numbering system

[morgan.quinn]

LOL Pretty much!

There's lots of unethical stuff going on. I've seen things that makes my skin crawl... I'm sure a lot of us have. But there's nothing unethical about having a well-written contract tailored to your funding company's practices and protocols (because there isn't just one contract for the entire MCA industry), explaining how ACH processing works to a merchant pre-funding, explaining how ACH lag time impacts your company's internal reporting, and promptly issuing refunds as soon as all payment settle.

[Nunya]

Just curious what everyone's renewal rate experience is with YS? What % renew? Of those that renew, how many turns?

[MCA]

Believe or not this was one of the reasons the DOJ took down Scott Tucker in the PDL space. His companies would leave the auto debits on and would not stop until their customers contacted them to make it stop and get a refund. If MCA companies are doing this then they might be opening themselves up to trouble down the road.

[fundingsmbs]

^ def. collection practices are a serious matter.